Fraud can be described as a deception deliberately practiced in order to secure unfair or unlawful gain.
Examples of fraudulent activities include mail fraud, financial statement fraud, vendor fraud, misappropriation of company funds/assets, preparation of fraudulent financial statements, bribery and corruption, kickbacks and secret commissions, fraudulent disbursements/false expense reporting and money laundering.
Detecting instances of fraud perpetrated on a company can be cumbersome and difficult.